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TE agrees to pay EGP2.5bn for mobile licence

: Tuesday, May 06 - 2014 @ 11:21

Telecom Egypt (TE), the country’s fixed line monopoly operator, has said its board has agreed to pay EGP2.5bn ($356.76m) for a mobile licence, Reuters has reported. “The firm’s board of directors agreed in its emergency meeting on May 4 to obtain the mobile phone licence without frequencies in return for EGP2.5bn,” TE said. Last month, the head of telecoms regulator, Hesham El Alaily said that an auction of radio spectrum for 4G mobile broadband services would be held in June 2016. Until then, TE will be able to offer mobile services through the networks of Egypt’s three existing mobile phone service providers.

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Tuesday, May 6- 2014 @ 11:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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